Within the last two months alone, our foreclosure lawyers have been able to secure a fair market value for a handful of homeowners who were previously underwater on homes that had been serviced by Ocwen.
Our attorneys know how to fight with Ocwen and to position our clients’ cases to ensure the best chance for a meaningful loan modification.
Even as banks attempt to project an image of greater transparency – as evidenced by a recently-advertised open house in Deerfield – it’s important to remember that these financial institutions aren’t working on your side, and they don’t have your best interests at heart.
Ocwen Loan Servicing, as well as Bank of America, Wells Fargo, Chase and GMAC, have reduced some $5 million in mortgage balances in South Florida over just the last two months, according to the Sun-Sentinel.
What you should know first of all is that these banks didn’t do this of their own good will and conscience. What kick-started it was a $25 billion settlement agreement hammered out by five major banks and the attorneys general of 49 states (Oklahoma worked out its own deal) as a result of widespread fraud perpetuated by these institutions.
The settlement requires these financial institutions not only to slash inflated mortgages, but also to pay up to $2,000 each to roughly 750,000 people for whom mortgage abuse led to home loss through foreclosure. That resulted from the “robo-signing” scandal, in which bankers have now admitted to attesting to knowledge of property ownership that in fact they did not have.
Florida stands to get about $7.5 billion of the settlement, according to Florida Attorney General Pam Bondi.
The second thing to note is that these modifications weren’t necessarily done without the help of an attorney. And those that might have been accomplished without legal advice weren’t necessarily the best deals they could have been made for these underwater homeowners.
An attorney can help you have your mortgage loan reduced by upwards of $200,000, depending on the unique situation you’re in.
Of course, now banks are spinning this as if they couldn’t be responsive prior to now because the crisis had been unprecedented – they didn’t have the resources to deal with loan modifications on any systematized scale until now.
The truth of the matter, though, is that it’s come down to homeowners who weren’t willing to simply take the injustice lying down and the aggressive Miami foreclosure attorneys who helped them fight it.
So now, a handful of large banks are holding a conference the second week of June at a Hilton hotel in Deerfield. They consider this an opportunity for underwater homeowners who may qualify for loan modification to get information.
But at this point, can you really trust the information being handed to you by the very banks who have worked so tirelessly to rip you off?
Particularly if you are seeking a loan modification from Ocwen Loan Servicing, contact our Miami foreclosure attorneys for a confidential consultation.
If you’re battling foreclosure in Miami or the surrounding areas, contact Jacobs Keeley for a confidential appointment to discuss your rights. Call (305) 358-7991.